The new BRICS payment system is here. There will be teething problems, but no going back now. A death knell for $USD dominance. If you think inflation is bad now...........
That the system is based on Russian Rubles, makes me suspect of the system. It seems basically that they are trying to make the ruble like a crypto currency. It seems to be an atempt for Russia to attempt to undermine the power of the U.S. They said it outright that it can be used to "make a political statement".
Crypto was hailed as a new currency alternative as well, but most who invested in it lost a lot of money.
It's Russia just hosting the convention of BRICS, yet the BRICS is the currency. It's not the BRICS who is in the decline. They are already trading very well in products energy,, yuan,and gold. And BRICS military to back up everything NATO throw at them for fear of losing their dallor and petro dallor too rapidly. Not long ago most of Russian international trade was in US dallor, today down to 13%. What esle would America hate be for Russia?
Annnnd just like Cryptocurrency, the effect on me will be amusement as I watch a bunch of greedy fools get sucked in. Period.
It could just be me, but let's say you came up with a new currency tomorrow. If it was gypto crypto I would laugh at you. Some people take that one seriously. Gimme some spray paint and I will paint a rock gold. Will that work for you? Then I see these TV commercials where people are buying real gold and it makes them feel good. They just love to feel it with their hands and fingers. I'm starting to laugh now and I think I will get off here and just play with some paper dollars. I have some from Kenya and Egypt also. Maybe I can play with them too.
That's about what it all means to me, but I hear Trump wants to get serious about crypto.
In my world of an artist lifestyle, , I somewhat agree with you, that money is imaginary. It just 1/5 of the equation. Like spirit, physical, intellectual and relationship.. When US politiscan and corporations created an elustion of a dallor or financial that reaches and controlls 90% of the worlds countries, its bull crap. It's when most of the world became delusional about the dallor and the petrol dallor actually realistic powers. BRICS is creating their owe transaction of mixed goods and services. Energy create Energy without the interference of centro banking and US military bases and US policing , sacti6on, tariff, banned, wars and all that other wasted energy, not needed , just Simplified
Our family use to play monopoly with my brother, who won every game for decades. Until the rest of us figured out what he was doing to win. Then the rest of us teamed up together and he didn't win anymore. That is what the BRICS is doing and the G7 can't do anything about it. Except hurt themselves some more, until they are willing to play fair with most of the rest of the worlds population.
My brother the greedy bastard. he has tamed down now.
If he beat you at "every game for decades" I'm sure he will easily come up with a strategy to nullify your hope and beat you again. It sounds like everyone he played against was kind of daft.
That is somewhat true, we were not sharp enough, we were even bored of the game. The same with countries before the BRICS.teaming together. Like two good heads are better than one. Five good head are better than two and so on.. No longer the G7 is so SWIFT, Building back better Or vaccines are 100% safe according to Biden who got covid 3 times.
@Castlepaloma You most likely got bored of the game because you were not good at it, try Candyland or Snakes and Ladders. They would be challenging for you but they both have pretty colors.
It depends on the "heads" and your definition of "good".
Biden getting Covid has nothing to do with the safety of vaccines. I think you are one of the daft ones.
In real life I avoid monopoly and chess games, where most of us are destructive pawns. Snakes and latter's too extreme ups and downs. I enjoy tit for tat or the matrix game, as we are all experienceing now. Tit for Tat is most effective choice for iterated games based on mutual cooperation or defection. Both players benefit if they cooperate, but one benefits and the other loses out if only they defect, and both lose out to a lesser extent if they simultaneously defect. life game like these are tools I used it to win more world championship metals at the world sandsculpture competition and broken more world records scale sculptures than anyone. . Most importantly is I love what I do for most waking hours of my life. Not had to kill anyone or punch down on anyone to get to the top.
@Castlepaloma So, which one are you?:
Carl Jara and Melineige Beauregard have won the most world championship medals in sand sculpting:
Carl Jara
Has won 14 world championship medals, including first place in 2008. Jara is known for not planning his designs ahead of time, and instead letting ideas come to him based on what's happening in the world or his own life.
Melineige Beauregard
Has won more than 70 individual sand sculpting awards, including the Grand Champion award at the first All Woman World Championship of Sand Sculpting.
I've hired Carl Jara on snow carving He is very good, he won sculptors choice more than anyone at the sandsculpture worlds. . Also hired him on Caricature cumtoms among 20 others on my staff. At the worlds championships he medal 14 times, I medal 25 times. He won one world title. I won 5 world titles. I won 185 international awards among 6 other sculpture materials. Been doing professional sculpture for 50 years.
Can't give you my name due to
Conflict of interest. Check back to 1979 first worlds sandsculpture championship I medal in. And they were all in Canada since. Check out the quality of my sculpture on my profile page. No more world championship due to stupid covid.
Have competited with all of these sculptors. Just not enough international contests making it worth wail. And have hit the ceiling. Got more pratical and important industries to create in tiny houses communities, urban farming and carving furniture's. Wail preparing for the North America collapse
"New BRICS currency a likely non-factor for U.S. investors."
"It would instead require widespread adoption from other developed economies before a BRICS currency would truly threaten the status of the dollar. It is very unlikely for now that foreign developed economies would trust or rely on a new BRICS currency." - Oct 9, 2024
But for non US investors, BRICS is a very big factor.
Before Biden decreed Russia be cut off from SWIFT, BRICS was just a concept. Any growth has been promoted by Biden/ Harris policy.
@nogod4me Ignore him he doesn't understand economics and refuses to learn. He is like Putin but even more of an idiot...
@nogod4me childish?
35% of world economies & now having, despite US imposed sanctions, better growth rates than G7.
You sound like the GREAT OZ!!! from the Wizard of Oz.
Demanding for everyone to Ignore the man behind the curtain.
.
@Castlepaloma Funny how you seem just like that movie making huge pronouncements on subjects you know nothing about.... It's almost as if you were religious.
I got plenty of heart and courage. I'd be the scarecrow, who actually came up with most of the good ideas during the journey.
@Castlepaloma Except in reality your ideas are invariably extremely bad... I can only theorize that this is because you are poorly educated and not particularly intelligent to start with.
Some might say that BRICS is MORTA in the water however competition between international financial payments systems is useful.
But given the balance of trade, it ain't a new world order despite what copy/paste aficionados masquerading as financial markets maestos and geo-political gurus might contend.
So says a man who since long before his birth has been robbed by the US Federal Reserve owned by Jewish controlled banks creating pretend money to charge interest on. Thank your president Wilson back in 1913 for signing the illegally (illegal because of the inadequacy of your constitution) presented bill.
I suggest that you get ready for the collapse of the US economy, obliteration of the USA as a country or both.
Just started and already failing because it blocks out trade with the countries that actually aren't in a state of financial ruin...
Countries being blocked from trade is the whole reason BRICS grows.
@puff Countries that are spiraling into a well deserved oblivion is why your Beloved BRICS is failing....
@Lizard_of_Ahaz May I ask what Stormy Daniels has to do with the price of eggs?
@puff She is attacking your hero (actually zero) Trumpy...
Wow, that totally blew over my head, with anything to do with world currency
Somebody is thinking with the little head.
@Castlepaloma Can you try that again but in English?....
Trump is just another puppet. All the US politicians and all the corperations and all the military men . Can't put Dumpty or any other President back together again.
@Castlepaloma So you prefer a murderous psychotic like Putin then?...
If it wasn't for Putin and BRICS, the whole world be slaves. Alway in need for a balance.
@Castlepaloma You sound religious.... That makes no sense at all when you claim that because a guy is trying to enslave the world he is keeping the world from being slaves...
Vladimir Putin is approaching the electoral outer limits. Claiming a record landslide on Sunday of 87.28% of the vote on a 77.44% turnout. At least they want to be slaves of Putin. They can't decide of what clown they want to be a slave of between Har-ass and Dumpty
@Castlepaloma In Russia you don't get to decide or believe anything except what you are told to decide or believe... You vote as you are told to vote and if you protest you are collected and sent to prison where you are tortured or simply disappear... You are a simple minded fucktard for believing otherwise...
Where did you get your intelligence from? the military, what an Oxymoron. I got my education in working and traveling over a 100 coutries including US and Russia. With world class people in their field. Don't need a PHD who just pile it higher and deeper.
@Castlepaloma I suggest you move back to Russia it sounds like you belong there...
Just after the rapture
or
When flairs come back in fashion
or
When Everton wins the Premier League
I've always wanted a lime green, flared safari suit made out of corduroy.
Or else.....
When our West supports the slaughter of civilians by giving diplomatic coverage at the UN and arming the slaughterers?
or
When people seek political asylum in the Russian Federation from USA persecution?
Things have a funny way of changing.
@puff You should be prosecuted for wearing something like that by the fashion police and as for wholesale murder of civilians nobody beats Russia...
@Lizard_of_Ahaz Murdering civilians was a thing in USSR days, but thankfully the world was rid of that in 1991. Then the US took over being the main murderer of civilians. Didn't take them long either. Yugoslavia was the start, followed by the "War on terror". So how many civilians dies in Iraq, Afghanistan and Libya?
But whilst the USSR was a thing we had the civilian slaughters in Korea and Viet Nam. Pinochet in Argentina, a product of US regime change. Etc etc etc............
"as for wholesale murder of civilians nobody beats Russia..." I would put both Nazi Germany and Zionist Israel above Russia. Bulgaria in the Congo. Pol Pot in Cambodia. The British in India/ Pakistan.
And the US cannot stand by the side and act innocent either.
Us humans are not that nice to each other.
You're just jealous of my fashion sense.
@puff Fucking idiot Russian drone operators are attacking civilians on the streets far behind the lines for fun and posting their murders online... They are purposely firing missiles and glide bombs at apartment buildings, hospitals, schools, markets and humanitarian aid vehicles in Ukraine as well. Putin is a murderous piece of trash who makes Stalin look like like a humanitarian and pacifist...
@puff My point is that although Brics sounds like a cool idea, the reality of a new dominant currency is wishful at best. And if the world were to ditch the dollar, it would be far more likely to choose the Euro. Brics is an Esperanto concept, good in theory but unlikely to become popular. Its member countries vary from dictatorship to unstable. Not one has a large consumer base and they are dotted all around the world with vastly divergent economies. We saw in 2008 how hard it was to maintain different economies' participation with the likes of Greece and Germany but you think S. A. and China can?
@273kelvin BRICS has come a long way in a few years. I think historians will conclude that the West's assumption that Russia would be ruined by the sanctions imposed after they invaded Ukraine early 2022, this assumption totally accepted by Zelenskyy when he rejected a peace in April 2022, was the worse call in History. It is causing the rapid demise of the $USD and will be identified as the beginning of the end..
@273kelvin I'm not sure how they will work it but it's not me saying it. Don't shoot the messenger. They will link currency to gold and other resources is my understanding. No more $Petro, which is dead already as Saudi Arabia now accepts other currencies.
Inflation figures in Australia are badly suppressed and it's much higher than the official rate. Same "full employment" figures. It will come home to roost eventually. Luckily Australia has debt in the 20's percent wise of GDP. Russia is similar I believe. Glad it's not 120+% of GDP when inflation does catch up with us all.
Considering sanctions were meant to ruin Russia, I think they would be happy with single figures of inflation. Europe is not doing well, especially industrial Germany.
@puff Okay, maybe the US is in decline and If Trump gets in that is far more likely to happen. That said, there is no real evidence that countries will go for a brand-new made-up currency backed by non-connected countries almost opposite in culture and economies. Over a proven currency like the Euro!
@273kelvin It is the fact that nations will no longer be required to hold US treasury bonds in reserve for trade in energy that is the death knell. The US really have overused sanctions, they even sanction allies, so it is not a matter of choice for many nations, it is necessity as the US are the ones who have banned them from using the $USD yet they still trade.
Banning Russia from SWIFT was huge. Unprecedented.
Siezing assets was also big. International theft throwing confidence in $USD institutions like the World Bank, IMF etc into doubt. The clear moral of the story? Don't invest national funds into US controlled anything, especially using their currency.
I think the Yuan will play a big role to start with, but it will become a universal currency for international trade with sovereign nations also maintaining their own currencies.
I can't wait to get one so long as I'm not going to be ripped of as much as I am by the current situation. . . Old saying: "if you stand by the side of the river long enough you will observe the dead bodies of your enemies float by." - ah what joyous days lie ahead.